Author: lbostgadmin
Circular Strategy
WASHINGTON, September 23, 2008 (AFP) – The conversion of Goldman Sachs and Morgan Stanley to regulated commercial banks marks the end of an era of independent Wall Street investment firms and a separation in the industry since the 1930s. The change, announced late Sunday by the Federal Reserve, closes the door on the last two […]
Sri Lanka shares weaken, investors wary of earnings outlook
Sept 23, 2008 (LBO) – Sri Lankan shares weakened further Tuesday on small volumes with brokers saying investors remained concerned about the earnings outlook of listed firms. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The All Share Price Index fell 0.37 percent (8.23 points) to 2,230.95 […]
Sri Lanka central bank is like a currency board: official
Sept 22, 2008 (LBO) – Sri Lanka’s monetary authority is now operating almost like a currency board and its currency issue is fully backed by reserves, a senior central banker has said. To receive instant alerts from LBO on your Dialog mobile type ‘act (space) lbo’ and send to 678 Sri Lanka abandoned a currency […]
Sri Lanka spreads some prices over two months in inflation reports
Sept 22, 2008 (LBO) – Sri Lanka is calculating point-to-point inflation by spreading some price increases across two months, an official said, adding to a series of recent actions that is casting a shadow over the integrity of the country’s economic statistics. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and […]
Former investment banker engineers biggest bailout
WASHINGTON, September 22, 2008 (AFP) – US Treasury Secretary Henry Paulson is a wealthy former Wall Street CEO and free-market thinker who has made a radical turn to help engineer the most extensive government bailout of the US economy in decades. Paulson, 62, two years ago swapped his post as CEO of the venerable Goldman […]
Nearly 53,000 China babies sickened by milk powder: govt
BEIJING, September 22, 2008 (AFP) – Nearly 53,000 children in China have been sickened by milk powder contaminated by an industrial chemical, the government said Monday, dramatically ramping up its previous figures.A total of 52,857 children had been brought to hospitals after falling ill, a health ministry spokesman told AFP. Most had “basically recovered” but […]
Goldman Sachs and Morgan Stanley to be holding companies; get more printed money: Fed
WASHINGTON, September 22, 2008 (AFP) – US investment banks Goldman Sachs and Morgan Stanley will become bank holding companies and will receive new US government credit, the Federal Reserve announced late Sunday.Goldman Sachs and Morgan Stanley are the only independent investment banks remaining in the United States following a meltdown on Wall Street that saw […]
Britain to boost powers of financial regulators
MANCHESTER, September 22, 2008 (AFP) – Britain is to draw up legislation to bolster the role of financial regulators and make it easier to intervene in a crisis to help stem global turmoil, the finance minister said Monday. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 A […]
Australian exports to surge despite global slowdown: forecaster
SYDNEY, September 22, 2008 (AFP) – Australian export earnings are set to hit record levels this year due to continued strong demand for raw materials despite a global economic slowdown, the nation’s chief forecaster said Monday. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 But Australia’s economy […]
EU says it does not want Sri Lanka to lose GSP+ trade deal
Sept 22, 2008 (LBO) – A senior European Union official said it does not want Sri Lanka to lose GSP+ trade concessions but the island must meet eligibility criteria to continue duty free market access to Europe under the deal. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to […]
High Risk
Sept 22, 2008 (LBO) – Police are trying to track down a Sri Lankan businessman who has fled abroad after duping thousands of people into depositing money with his firm by promising high returns. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 Thousands of distraught depositors have […]
Sri Lanka shares weaken, trading dries up
Sept 22, 2008 (LBO) – Sri Lankan shares ended slightly weaker Monday with trading virtually drying up and small investors hunting for bargains in a becalmed market, brokers said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The All Share Price Index was down 0.50 percent (11.14 […]